Great Lakes Dredge & Dock (NASDAQ:GLDD) Sets New 1-Year High – What’s Next?

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) hit a new 52-week high on Tuesday . The company traded as high as $12.27 and last traded at $12.25, with a volume of 250813 shares trading hands. The stock had previously closed at $12.12.

Analysts Set New Price Targets

GLDD has been the subject of several research analyst reports. Noble Financial increased their target price on Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. StockNews.com downgraded shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th.

Great Lakes Dredge & Dock Trading Down 0.9 %

The stock has a market cap of $790.04 million, a price-to-earnings ratio of 20.74, a P/E/G ratio of 0.41 and a beta of 1.15. The business’s fifty day simple moving average is $10.38 and its 200 day simple moving average is $9.25. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.32 and a quick ratio of 1.13.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.08. The firm had revenue of $170.09 million for the quarter, compared to analyst estimates of $165.00 million. Great Lakes Dredge & Dock had a net margin of 6.61% and a return on equity of 10.05%. During the same quarter in the prior year, the business earned $0.03 earnings per share. On average, research analysts predict that Great Lakes Dredge & Dock Co. will post 0.8 EPS for the current year.

Insider Buying and Selling

In other Great Lakes Dredge & Dock news, CEO Lasse Petterson sold 46,510 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $9.08, for a total value of $422,310.80. Following the sale, the chief executive officer now directly owns 931,101 shares in the company, valued at approximately $8,454,397.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 128,990 shares of company stock worth $1,174,747 in the last three months. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

A number of hedge funds have recently made changes to their positions in the business. Jennison Associates LLC boosted its position in Great Lakes Dredge & Dock by 1.4% during the 1st quarter. Jennison Associates LLC now owns 4,359,725 shares of the construction company’s stock worth $38,148,000 after acquiring an additional 60,307 shares during the period. Vanguard Group Inc. lifted its stake in shares of Great Lakes Dredge & Dock by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 3,413,673 shares of the construction company’s stock worth $29,870,000 after acquiring an additional 48,760 shares during the period. TCW Group Inc. boosted its holdings in shares of Great Lakes Dredge & Dock by 2.0% in the second quarter. TCW Group Inc. now owns 1,996,138 shares of the construction company’s stock valued at $17,526,000 after acquiring an additional 38,200 shares in the last quarter. Private Management Group Inc. increased its stake in shares of Great Lakes Dredge & Dock by 2.9% during the second quarter. Private Management Group Inc. now owns 1,253,165 shares of the construction company’s stock valued at $11,003,000 after acquiring an additional 35,077 shares during the period. Finally, Wellington Management Group LLP raised its holdings in Great Lakes Dredge & Dock by 2.6% during the fourth quarter. Wellington Management Group LLP now owns 451,626 shares of the construction company’s stock worth $3,468,000 after purchasing an additional 11,640 shares in the last quarter. Institutional investors own 89.11% of the company’s stock.

About Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corporation provides dredging services in the United States. The company engages in capital dredging that consists of port expansion projects; coastal restoration and land reclamations; trench digging for pipelines, tunnels, and cables; and other dredging related to the construction of breakwaters, jetties, canals, and other marine structures.